Data quality is essential for the tax industry, as it fuels better decision-making, helps organizations understand their customers, and improves processes and efficiencies. Tax officials now request that businesses electronically submit transactional data with plenty of detail, and data quality can make or break an enterprise resource planning (ERP) system. Problems with data quality come from outdated data, lack of access to current data, inconsistency issues between data sources, and human errors. Tax firms can improve data quality with automated processes and technology, and reap the benefits of better strategic tax decisions and increased business growth.
Excerpt from the main article:
The benefits of having high-quality data are widely known. Data fuels better decision making, helps organizations understand their customers, and improves processes and efficiencies. Within the realms of taxation, requirements from tax officials for digital data have increased worldwide in recent years. Countries now request that businesses electronically submit transactional data with plenty of detail.
Why Data Quality Is Essential For The Tax Industry | Webbula was originally published on Blog
